Information about Starting Business
There are a number of alternatives for those intending to start business
in Sumy Region. One can find such forms of incorporation for enterprises:
- Joint-Stock
Company (JSC) – is a Corporate Entity, its authorized (statutory) fund is
divided into stocks of equal nominal value. Stockholders take the risk of
losses in accordance with obligations connected with company's activities
within the limits of their stocks value.
- Limited
Liability Company (LLC) – is a Corporate Entity, its participants are owners of
a part of assets determined by the charter.
*
Reference: the
most convenient form of investment company registration is LLC.
- Company Representative Office – is not a Corporate Entity,
it acts on behalf of the foreign company it represents. There exist commercial
(for limited business activities) and non-commercial (for preparatory or assistance
activities in the region) Company Representative Bodies.
Any foreign company engaged in
external economic activity in Ukraine is entitled to start a Company
Representative Office in Ukraine. Its registration is carried out by Ministry
for Economy of Ukraine within 60 days from the date of passing all necessary
documents.
Company Registration
Registration of Corporate Entities is carried out by way of taking the
following steps:
- developing foundation
documents;
- opening
temporary account for forming statutory fund;
- government
registration of business activities subjects – "single window" (at Pension
Fund Institutions, Statistics, Social Insurance and Tax Inspection Bodies);
- making seals and
stamps;
- opening
current
account
at
the
bank
.
The
registration
term
comprises
from
3
days
to
2
weeks
.
Licensing Centres of Sumy Region (1).
List of documents necessary for government registration of enterprises
(2).
Purchasing right for building up plots of land (3).
